From CNBC: 2024-09-26 18:51:58

The FDA approved Bristol Myers Squibb’s new schizophrenia drug, Cobenfy, the first of its kind in over 70 years. Schizophrenia can disrupt daily life, affecting millions in the US. Cobenfy aims to provide a new effective option for patients who struggle with existing treatments. The drug will cost $1,850 per month.

Cobenfy could be a significant long-term sales opportunity for Bristol Myers Squibb following its acquisition of Karuna Therapeutics. Analysts see a multi-billion dollar potential for the drug, but expect a slow launch. The drug’s unique mechanism of action aims to improve symptoms without common antipsychotic side effects like weight gain and fatigue.

Bristol Myers Squibb plans to offer financial assistance programs to help patients afford Cobenfy. The drug will face competition from existing antipsychotics with lower list prices. Cobenfy is expected to become the standard treatment for schizophrenia, providing an alternative for patients who have not responded to other treatments.

Clinical trials showed that Cobenfy significantly reduced symptoms of schizophrenia with mild to moderate side effects. Bristol Myers Squibb is exploring the drug’s potential for treating Alzheimer’s, bipolar mania, and autism-related irritability. Cobenfy could have multiple indications beyond schizophrenia, positioning it as a versatile treatment option.



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